---
title: "CINESE INTL plans to sell all shares of BVTEHC Inc. for CAD 3 million"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/255249584.md"
description: "CINESE INTL announced that it will sell its wholly-owned subsidiary BVTEHC Inc. for CAD 3 million. Upon completion of the transaction, BVTEHC Inc. will no longer be a subsidiary of the company, and its financial performance will no longer be consolidated into the group's financial statements. Although the aviation and tourism industries have improved, the operating environment is expected to become more challenging due to passenger traffic not returning to pre-pandemic levels. The board believes that this transaction represents a good opportunity to sell the target company at a reasonable price, and the proceeds will be used to enhance the group's working capital"
datetime: "2025-08-29T16:16:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/255249584.md)
  - [en](https://longbridge.com/en/news/255249584.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/255249584.md)
---

# CINESE INTL plans to sell all shares of BVTEHC Inc. for CAD 3 million

According to the announcement from CINESE INTL (01620), on August 29, 2025 (after trading hours), the seller (the company's wholly-owned subsidiary BVTEHU Inc.) and the buyer (1001329818 Ontario Inc.) entered into an agreement, under which the seller agrees to sell the sale shares (i.e., all issued share capital of BVTEHC Inc. (the target company)) to the buyer for CAD 3 million (approximately HKD 17.1 million), which is subject to adjustment. The agreement will be completed immediately after its signing, and upon completion, the company will no longer have any interests in the target company, and the target company will no longer be a subsidiary of the company. The financial performance of the target group will no longer be consolidated into the group's financial statements.

The target company is an investment holding company registered under the laws of Ontario, Canada, and Tour East Canada is its wholly-owned and main operating subsidiary. The target group primarily engages in ticket distribution, travel business process management, and providing travel products and services in Canada.

Despite improvements in the overall aviation, tourism, and sightseeing industries, passenger traffic and transaction volumes have not yet returned to pre-pandemic levels, particularly the air transport volume between China and North America remains sluggish. Coupled with tense international situations and unclear geopolitical prospects, the operating environment is expected to become more challenging. The group's ticket distribution business in Canada (conducted through the target group) has incurred losses for the year ending December 31, 2024, and for the six months ending June 30, 2025, with no signs of recovery recently.

The buyer (an affiliate of the group’s client) has proposed to acquire the target group under the current circumstances. Considering the above factors, the board believes that this transaction should be regarded as a valuable opportunity for the group to sell the target company at a reasonable price, and the net proceeds from the transaction (after deducting expenses related to the transaction) of approximately HKD 15.8 million will be used to enhance the group's working capital and liquidity

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